2024-05-15T18:30:34-05:00 2023-06-30 111986323 MARCUM LLP 1899 L STREET NW SUITE 850 WASHINGTON DC 20036 990 2022-07-01 020550253 DC PREPARATORY ACADEMY DCPR 2026354590 707 EDGEWOOD STREET NE WASHINGTON DC 20017 LAURA MAESTAS CHIEF EXECUTIVE OFFICER 2026354590 2024-05-15 1 LAURA MAESTAS 999009999 0 FRANK H SMITH P00639053 2022274000 2024-05-15 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z LAURA MAESTAS 707 EDGEWOOD STREET NE WASHINGTON DC 20017 71788639 0 X WWW.DCPREP.ORG X 2001 DC DC PREP IS A NETWORK OF PUBLIC CHARTER SCHOOLS SERVING PK3-8TH GRADE STUDENTS IN WASHINGTON, DC. 14 14 515 85 0 0 52281061 57471605 1713360 2002759 8270970 958273 59284 120665 62324675 60553302 400484 405571 0 0 33941716 40955231 0 0 820808 18944123 21474330 53286323 62835132 9038352 -2281830 111305629 114824621 72029070 76122578 39276559 38702043 X DC PREP'S MISSION IS TO BRIDGE THE EDUCATIONAL DIVIDE IN WASHINGTON, DC BY INCREASING THE NUMBER OF STUDENTS FROM UNDERSERVED COMMUNITIES WITH THE ACADEMIC PREPARATION AND PERSONAL CHARACTER TO SUCCEED IN COMPETITIVE HIGH SCHOOLS AND COLLEGES. 0 0 52462597 375000 2002759 AT DC PREP, OUR VISION IS THAT EVERY CHILD WILL BE PREPARED ACADEMICALLY AND SOCIALLY FOR A SUCCESSFUL FUTURE. WE HAVE BIG DREAMS FOR OUR STUDENTS AND MAKE THOSE DREAMS A REALITY THROUGH DAILY EFFORT, FOCUS, AND SUPPORT OF ONE ANOTHER AND OUR STUDENTS AND FAMILIES. DC PREP CURRENTLY OPERATES SIX TUITION-FREE PUBLIC CHARTER SCHOOLS THAT ARE OPEN TO ANY CHILD IN WASHINGTON, ENROLLING MORE THAN 2,100 STUDENTS IN GRADES PRESCHOOL THROUGH 8TH GRADE. HISTORICALLY, 89% OF DC PREP STUDENTS ARE AFRICAN-AMERICAN AND 7% ARE HISPANIC; OVER 60% OF STUDENTS ARE CONSIDERED "AT RISK" BECAUSE THEY ARE HOMELESS, IN FOSTER CARE, OR THEIR FAMILIES QUALIFY FOR GOVERNMENT ASSISTANCE.DC PREP HAS A TWIN FOCUS ON HIGH-QUALITY, RIGOROUS ACADEMICS AND HOLISTIC SOCIAL-EMOTIONAL GROWTH. DURING OUR 20 YEARS AS A CHARTER NETWORK, WE HAVE ACHIEVED SIGNIFICANT RESULTS ACROSS STUDENT OUTCOMES (INCLUDING ALUMNI SUCCESS), QUALITY REPORTS, AND AWARDS AND RECOGNITIONS. IN OUR 21-YEAR HISTORY, DC PREP HAS CONSISTENTLY BEEN AMONG THE HIGHEST PERFORMING NETWORKS OF PUBLIC CHARTER SCHOOLS IN OUR NATION'S CAPITAL. OUR 2023 PARCC ASSESSMENT RESULTS DEMONSTRATED THAT DC PREP STUDENTS GREW AT A FASTER PACE POST-PANDEMIC THAN STUDENTS CITYWIDE. ONE-HUNDRED PERCENT OF OUR ALUMNI HAVE BEEN ACCEPTED TO A COLLEGE-PREPARATORY HIGH SCHOOL, EARNING A CUMULATIVE $13 MILLION IN SCHOLARSHIP SUPPORT. OUR ALL-TIME HIGH SCHOOL GRADUATION RATE IS 95%, COMPARED TO THE CITYWIDE RATE OF 75%. OUR ALUMNI GRADUATE COLLEGE AT FOUR TIMES THE RATE OF THEIR PEERS, BOTH LOCALLY AND NATIONALLY.ALL DC PUBLIC CHARTER SCHOOLS MUST UNDERGO THE ACCREDITATION PROCESS EVERY FIVE YEARS TO REMAIN ELIGIBLE FOR OPERATION IN THE CITY. THE ACCREDITATION PROCESS IS CONDUCTED BY AN INDEPENDENT THIRD-PARTY ACCREDITATION ORGANIZATION TO EVALUATE AN LEA'S PERFORMANCE AGAINST A NUMBER OF PERFORMANCE STANDARDS EVALUATING LEADERSHIP, LEARNING, AND RESOURCE CAPACITY. IN ITS MOST RECENT ACCREDITATION REVIEW BY COGNIA, DC PREP EARNED AN INDEX OF EDUCATION QUALITY (IEQ) SCORE OF 387 OUT OF A POSSIBLE 400 POINTS. THE FIVE-YEAR AVERAGE OF INSTITUTIONS IN COGNIA'S ACCREDITATION NETWORK IS 278-283.THE DC OFFICE OF THE STATE SUPERINTENDENT OF EDUCATION (OSSE) RELEASES AN ANNUAL ASSESSMENT OF SCHOOL PERFORMANCE. THE DC SCHOOL REPORT CARD IS DESIGNED TO PROVIDE COMMUNITY MEMBERS AND FAMILIES WITH HIGH-QUALITY INFORMATION AND SCHOOL PERFORMANCE DATA FOR ALL PUBLIC SCHOOLS IN DC. SUMMATIVE SCHOOL PERFORMANCE SCORES ARE CALCULATED USING A NUMBER OF MEASURES. IN 2023, ALL THREE OF DC PREP'S MIDDLE SCHOOL CAMPUSES SCORED IN THE TOP 10% OF MIDDLE SCHOOLS IN THE CITY; OUR EDGEWOOD MIDDLE CAMPUS RECEIVED THE HIGHEST SUMMATIVE SCORE OF ANY MIDDLE SCHOOL IN THE CITY. EACH YEAR, THE DC PUBLIC CHARTER SCHOOL BOARD ISSUES AN OVERALL RANKING OF SCHOOLS' ACADEMIC AND CULTURE PROGRESS, RANKING EACH SCHOOL BETWEEN TIER 1 (THE HIGHEST) AND TIER 3 (THE LOWEST). ALL FIVE DC PREP CAMPUSES OPEN AT THE TIME EARNED A TIER 1 RANKING ON THE 2019 SCHOOL QUALITY REPORTS, THE HIGHEST RANKING (AMC DID NOT OPEN UNTIL 2020). THE DC PCSB HAS NOT ISSUED TIER RANKINGS SINCE 2019 DUE TO THE IMPACT OF THE PANDEMIC. 52462597 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 1 0 1 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 121 0 1 515 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X DANIEL ENGLENDER 2026354590 707 EDGEWOOD STREET NE WASHINGTON DC 20017 PATRICK CLOWNEY CHAIR 5.00 X X 0 0 0 HADLEY COOPER SECRETARY 1.00 X X 0 0 0 JENNY ABRAMSON DIRECTOR 1.00 X 0 0 0 COLLETTE BRUCE DIRECTOR 1.00 X 0 0 0 CHEVALIER CLEAVES DIRECTOR 1.00 X 0 0 0 LISA CULLINS DIRECTOR 1.00 X 0 0 0 LEROY TERRY EAKIN III DIRECTOR 1.00 X 0 0 0 MICHELA ENGLISH DIRECTOR 1.00 X 0 0 0 DANIEL FINE DIRECTOR 1.00 X 0 0 0 AHMAD HAJJ DIRECTOR 1.00 X 0 0 0 TEMICA HUNT DIRECTOR 1.00 X 0 0 0 MERCEDES KEARNEY DIRECTOR 1.00 X 0 0 0 EMILY K LAWSON DIRECTOR 1.00 X 0 0 0 PAM STEPTOE DIRECTOR 1.00 X 0 0 0 NICOLE DAVY DIRECTOR - UNTIL 09/2022 1.00 X 0 0 0 JUDY LANSING KOVLER DIRECTOR - UNTIL 09/2022 1.00 X 0 0 0 LAURA MAESTAS CHIEF EXECUTIVE OFFICER 40.00 X 210998 0 11827 DANIEL ENGLENDER CHIEF OPER OFFICER/CFO/TREASURER 40.00 X 196755 0 18000 KATIE SEVERN PRESIDENT AND ACADEMIC OFFICER 40.00 X 236057 0 24423 TARA O'FLAHERTY SENIOR DIRECTOR OF SCHOOLS 40.00 X 188752 0 18254 CASSIE PERGAMENT SENIOR DIRECTOR OF PROGRAM 40.00 X 170810 0 15768 ALIESHA MAYE CHIEF OF SCHOOL OPERATIONS 40.00 X 157568 0 10553 BARRY BRINKLEY CHIEF OF STAFF 40.00 X 151950 0 8538 DAVID BURKE DIRECTOR OF PEOPLE OPERATIONS 40.00 X 139045 0 14520 EMILY JOHANNSEN SENIOR DIRECTOR OF OPERATIONS 40.00 X 154827 0 15884 1606762 0 137767 9 0 1 0 MCN BUILD 1214 28TH STREET NW WASHINGTON DC 20007 CONSTRUCTION SERVICES 17953607 REVOLUTION FOODS PO BOX 742759 LOS ANGELES CA 90074 FOOD SERVICES 1209704 PMM COMPANIES 15938 DERWOOD POAD ROCKVILLE MD 20855 JANITORIAL AND FACILITIES MANAGEMENT SER 928116 END-TO-END SOLUTIONS FOR SPECIAL EDUCATI 714 G STREET SE SUITE 201 WASHINGTON DC 20003 SPECIAL EDUCATION SERVICES 913043 MEDSTAR GEORGETOWN UNIVERSITY HOSPITAL 2115 WISCONSIN AVE NW WASHINGTON DC 20007 CLINICAL SUPPORT AND SERVICE COORDINATIO 650247 13 56529455 942150 58345 57471605 CAFETERIA REVENUE 900099 1511909 1511909 MEDICAID PROGRAM 900099 394673 394673 E-RATE PROGRAM 900099 86285 86285 CHILD DEVELOPMENT CNTR 900099 9892 9892 2002759 932694 932694 11260916 11235337 25579 25579 25579 MISCELLANEOUS 900099 120665 120665 120665 60553302 2002759 0 1078938 375000 375000 30571 30571 938817 319083 596652 23082 33932236 28853117 4858169 220950 633648 531654 95947 6047 2707157 2302897 385702 18558 2743373 2302025 422416 18932 177728 27282 150446 596972 596972 160496 5269 155227 929041 650329 139356 139356 461434 385715 72422 3297 5505703 5426424 60788 18491 3507632 3325659 172997 8976 357547 298876 56117 2554 DIRECT STUDENT COSTS 5216381 5216381 OTHER EXPENSES 1873846 1072519 647494 153833 STAFF RELATED EXPENSES 1029661 737260 275532 16869 PROF. DEVELOPMENT 916431 495805 393782 26844 741458 112000 621666 7792 62835132 52462597 9551727 820808 X 14947836 12321628 6269466 1181228 4786898 4811814 289457 462589 532989 621822 98875694 26253299 69756167 72622395 10011212 15119915 4711604 7683230 111305629 114824621 11449676 4165562 33745 33745 37633755 48894672 22911894 23028599 72029070 76122578 X 39102059 38667728 174500 34315 39276559 38702043 111305629 114824621 -2281830 1707314 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 0 0 0 1 3629 0 0 3629 0 PART II-B, LINE 1: IN FISCAL YEAR 2023, DC PREP ENGAGED IN THE FOLLOWING GRASSROOTS LOBBYING ACTIVITIES TO INFLUENCE LOCAL EDUCATION LEGISLATION AND INITIATIVES: TESTIFIED AT COUNCIL MEETINGS TO DISCUSS COMPENSATION AND CLINICIAN SHORTAGES, MET WITH DC COUNCIL MEMBERS, AND ATTENDED COMMUNITY MEETINGS. 4249945 4249945 41861733 11041361 30820372 46351650 10396024 35955626 5881428 4614740 1266688 530938 201174 329764 72622395 DEPOSITS 288678 INTEREST RATE SWAPS ASSET 6184289 FUNDS HELD BY OTHERS 1210263 7683230 X PART X, LINE 2: DC PREP PERFORMED AN EVALUATION OF UNCERTAINTY IN INCOME TAXES FOR THE YEARS ENDED JUNE 30, 2023 AND 2022, AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS OR THAT MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 IN ALL MATERIALS, DC PREP IS DESCRIBED AS A PUBLIC SCHOOL, OPEN TO ALL ON A SPACE-AVAILABLE BASIS. SCHEDULE E, PART I, LINE 6 DC PREP IS A PUBLIC CHARTER SCHOOL AND RECEIVED FEDERAL FUNDS FROM THE U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES, U.S. DEPARTMENT OF EDUCATION, AND THE U.S. DEPARTMENT OF AGRICULTURE. 1 DC PREP SUPPORT CORPORATION 707 EDGEWOOD STREET NE WASHINGTON DC 20017 821574134 501(C)(3) 375000 0 SINKING FUND PAYMENTS FOR AEC'S LOAN 1 0 GIFT CARDS AND TEXT BOOK PURCHASES AND OTHER SUPPORT 73 25830 TUITION PAYMENTS 4 4741 PART I, LINE 2: A SCHOLARSHIP COMMITTEE (CURRENTLY MADE UP OF THE CEO, CHIEF DEVELOPMENT OFFICER, DIRECTOR OF HIGH SCHOOL PLACEMENT, DIRECTOR OF PREPNEXT, AND ALUMNI SUPPORT COUNSELORS) REVIEWS REQUESTS FROM THE FAMILIES OF ALUMNI STUDENTS WHO REQUIRE FINANCIAL SUPPORT IN ORDER TO ATTEND AN OUTSTANDING HIGH SCHOOL OR COLLEGE. IN ALL CASES, THE FUNDS ADDRESS THE SHORTFALL BETWEEN THE SCHOLARSHIP OFFER THE ALUMNI STUDENT HAS RECEIVED FROM THE INSTITUTION AND THE ACTUAL COST OF TUITION AND ASSOCIATED COSTS. THE FUNDS ARE SENT DIRECTLY TO THE SCHOOL WITH A LETTER DETAILING THE PURPOSE OF THE FUNDS. X X X 0 0 0 0 0 0 0 1 0 KATIE SEVERN PRESIDENT AND ACADEMIC OFFICER 230557 0 5500 0 0 0 12248 0 12175 0 260480 0 0 0 LAURA MAESTAS CHIEF EXECUTIVE OFFICER 210998 0 0 0 0 0 10569 0 1258 0 222825 0 0 0 DANIEL ENGLENDER CHIEF OPER OFFICER/CFO/TREASURER 191255 0 5500 0 0 0 9712 0 8288 0 214755 0 0 0 TARA O'FLAHERTY SENIOR DIRECTOR OF SCHOOLS 183252 0 5500 0 0 0 9966 0 8288 0 207006 0 0 0 CASSIE PERGAMENT SENIOR DIRECTOR OF PROGRAM 165310 0 5500 0 0 0 8942 0 6826 0 186578 0 0 0 EMILY JOHANNSEN SENIOR DIRECTOR OF OPERATIONS 149077 0 5750 0 0 0 7973 0 7911 0 170711 0 0 0 ALIESHA MAYE CHIEF OF SCHOOL OPERATIONS 152068 0 5500 0 0 0 2265 0 8288 0 168121 0 0 0 BARRY BRINKLEY CHIEF OF STAFF 146450 0 5500 0 0 0 1175 0 7363 0 160488 0 0 0 DAVID BURKE DIRECTOR OF PEOPLE OPERATIONS 133545 0 5500 0 0 0 7009 0 7511 0 153565 0 0 0 PART I, LINE 7 ALL BONUSES PAID TO DC PREP'S OFFICERS, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES LISTED IN FORM 990 PART VII, SECTION A FOR THE 2023 CALENDAR YEAR WERE COVID THANK YOU BONUSES PAID TO ALL STAFF. A DISTRICT OF COLUMBIA 536001131 2021-12-15 52000000 REPAY OUTSANDING BONDS (A AND B) AND NMTC LOANS AND FINANCE RENOVATION OF SC 0 0 0 A 48894672 652939 48241732 2023 1 0 0 1 A 0 0 0 0 0 0 1 A 0 1 1 0 1 1 EAGLE BANK 0 0 0 0 0 A 0 SCHEDULE K SUPPLENTAL INFORMATION SCHEDULE K, PART II, LINE 7: FOR THE 2005 SERIES BOND, INCLUDED IN THE TOTAL ISSUANCE COST FROM PROCEEDS ARE THE FOLLOWING: LETTER OF CREDIT FEES ($51,806), INTEREST RATE CAP ($15,400), AND CREDIT ENHANCEMENT FEES ($3,475). FOR THE 2007 SERIES BOND, INCLUDED IN THE TOTAL ISSUANCE COST FROM PROCEEDS ARE THE FOLLOWING: LETTER OF CREDIT FEES ($80,707) AND CREDIT ENHANCEMENT FEES ($5,519). X 4 58345 FMV 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE INFORMATION TO COMPLETE THE FEDERAL FORM 990 IS PROVIDED TO THE PREPARER BY DC PREP'S CONTRACTED ACCOUNTING SERVICE, IT'S DIRECTOR OF FINANCE, CFO, AND CEO. ONCE THE INITIAL DRAFT FEDERAL FORM 990 IS COMPLETED, IT IS CIRCULATED TO THE AUDIT COMMITTEE FOR REVIEW AND ACCEPTANCE, FOLLOWED BY THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO SUBMISSION TO THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE MEMBERS OF DC PREP'S BOARD OF DIRECTORS, OFFICERS, AND KEY EMPLOYEES COMPLETE A CONFLICT OF INTEREST STATEMENT ON AN ANNUAL BASIS THAT IS REVIEWED BY THE BOARD CHAIRMAN AND CEO FOR ANY POTENTIAL CONFLICTS. ANY BOARD MEMBER WHO BELIEVES HIMSELF OR HERSELF TO HAVE A CONFLICT OF INTEREST IN A DECISION ON A SPECIFIC MATTER IS REQUIRED TO RECUSE HIMSELF OR HERSELF FROM THE DISCUSSION AND VOTE ON SAID MATTER. FORM 990, PART VI, SECTION B, LINE 15 THE CEO WORKS WITH MEMBERS OF THE GOVERNANCE COMMITTEE OF THE BOARD OF DIRECTORS, USING COMPARATIVE COMPENSATION DATA OF ORGANIZATIONS OF SIMILAR SIZE IN THE CHARTER MANAGEMENT ORGANIZATION INDUSTRY, TO DETERMINE ANNUAL COMPENSATION OF OFFICERS AND KEY EMPLOYEES. COMPENSATION OF THE CEO IS PRESENTED TO THE BOARD OF DIRECTORS BY THE CHAIR OF THE GOVERNANCE COMMITTEE IN EXECUTIVE SESSION OF A REGULARLY SCHEDULED BOARD MEETING. THE CEO IS NOT PRESENT FOR THE DISCUSSION. AS IT TAKES PLACE IN EXECUTIVE SESSION, THE NOTES FROM THAT DISCUSSION ARE NOT A PART OF THE REGULAR MINUTES FOR THE BOARD MEETING. THE CHAIR OF THE GOVERNANCE COMMITTEE MAINTAINS A WRITTEN DESCRIPTION OF THAT DISCUSSION THAT INCLUDES THOSE BOARD MEMBERS PRESENT AND ACKNOWLEDGES THEIR UNANIMOUS DECISION. TO DRAW UP ITS RECOMMENDATION FOR COMPENSATION, THE GOVERNANCE COMMITTEE MAKES USE OF DATA OF COMPARABLE ORGANIZATIONS (MULTIPLE-CAMPUS CHARTER SCHOOLS) BASED ON RESEARCH CONDUCTED ON CHARTER SCHOOLS BY EDUCATION ORGANIZATIONS AND GROUPS. THE DATA SHOWS THAT THE CEO'S COMPENSATION IS GENERALLY IN LINE WITH ORGANIZATIONS OF SIMILAR SIZE AND ACHIEVEMENT. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. ALSO, MANY OF THE GOVERNING DOCUMENTS AND THE FINANCIAL STATEMENTS ARE AVAILABLE FROM THE DC PUBLIC CHARTER SCHOOL BOARD, DC PREP'S AUTHORIZER. FORM 990, PART X, LINES 1-3: DC PREP IS MEASURED AGAINST VARIOUS FINANCIAL COMPLIANCE AND STRENGTH METRICS, INCLUDING COVENANTS IN DC PREP'S LOAN AGREEMENTS FOR SCHOOL FACILITIES, AND FINANCIAL REPORTING FROM THE PUBLIC CHARTER SCHOOL BOARD. THESE METRICS DIRECT DC PREP TO MAINTAIN A CERTAIN DEBT SERVICE COVERAGE RATIO, MAINTAIN A LARGE BALANCE OF CASH ON HAND, AND MORE. DC PREP SUPPORT CORPORATION 707 EDGEWOOD STREET NE WASHINGTON DC 20017 821574134 TO SUPPORT D.C. PREPARATORY ACADEMY DC 501(C)(3) LINE 12A, I DC PREPARATORY ACADEMY 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 DC PREP SUPPORT CORPORATION B 375000 COST VALUE